Cameroon telecommunications giant Vodafone Cameroon has ended its operations in the country on Friday after the withdrawal of its license.
The service provider which started operations in 2016 said in a statement that it was no longer commercially viable to resume services in Cameroon after it was suspended in September.
“After the withdrawal of our license by the Ministry of Posts and Telecommunications and the Telecoms Regulatory Board and the suspension of our services from 14 September 2017, the operator of the company, Afrimax Cameroon, concluded reluctantly that it was no longer commercially viable to resume services in Cameroon. As a result, Vodafone Cameroon has ceased operations with immediate effect,” it said in a statement.
Afrimax Group operates Vodafone Cameroon which was formed through a non-equity partner market agreement with Vodafone.
The action halted the operations of the company which was about to extend its 4G LTE mobile internet service to all the country’s ten regions being the first to introduce the service into the country.
Vodafone Cameroon became the fastest growing telecommunications company in the country by gaining 15,000 customers in only four months of operation and representing more than 80% of the telecom market.
The company is valued at 40 million dollars and has 116 employees around the country.
“Afrimax again apologizes for any disruption experienced by customers, businesses and suppliers, and wishes to thank Vodafone Cameroon’s loyal staff for their hard work, enthusiasm and support,” the company added in the statement posted on its website.